A joint resolution to insure orderly and responsible congressional review of tax preferences, and other items which narrow the income tax base.

Summary

States that on or before February 1, 1973, the Secretary of the Treasury shall submit to the Committee on Ways and Means of the House of Representatives a report containing detailed evaluations of at least one-half of the tax preference items listed in this Act. Directs the committee to evaluate the report of the Secretary and report to the House of Representatives, before the close of the first session of the 93rd Congress, a bill to repeal or modify those items reviewed which the committee recommended should be repealed or modified. Directs the Secretary and the committee to follow the same procedure with respect to the remaining unreviewed items listed under this Act, during the second session of the 93rd Congress. Provides that on or before December 31 of each even-numbered year beginning with December 31, 1974, the Secretary of the Treasury shall submit to the committee a report containing detailed evaluations of all tax preferences and other items which narrows the income tax base. Directs the Secretary of the Treasury to submit to the committee a report containing detailed evaluations of each proposed tax preference or other item which narrows the income tax base within 90 days after the introduction in Congress of any legislation containing such proposal.

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1 official file

• Introduced in House

  summary · EN · 3 January 1973

  Open at official source

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